Quick Guide to Selling Methods
Here are three recommended methods for selling your property:
1. Auction
Some of the benefits of selling your property by auction include:
- Vendors have total control over the sale process.
- Auctions attract more buyers to your property because prospective buyers aren’t put off by an asking price.
- The auction date creates a sense of urgency that prevents buyers delaying their decision and lets them know you are serious about selling.
- You are protected by a reserve price. This means your property won’t sell unless bidding reaches a pre-agreed level.
- There is no ceiling price so you have the opportunity to achieve a price above your expectations.
- Auctions produce an unconditional contract for sale with a set settlement date.
2. Private Treaty
Some of the benefits of selling your property by private treaty include:
- A fixed price makes it easy for buyers — they don't need to ‘guess’ your desired sale price.
- The price can be adjusted throughout the marketing stage, based on qualified buyer feedback and local market conditions.
- This method of sale is a tried and tested style of marketing.
- It assists buyers to formulate offers that address your desired selling price, which leads to a faster negotiation process.
3. Tender — selling to the highest bidder
Some of the benefits of selling your property by tender include:
- This method of sale shows you are confident about your property and a successful sale.
- Tenders offer the intensity of an auction but without the potential stress of an auction day.
- Tender enables you to keep the price you may accept for your property discreet and lets the market dictate the price buyers are prepared to pay.
- A tender has a closing date to create a sense of urgency in the buying process.
- This method of sale generates competition for your property.
